Colts won't use NFL's franchise tag

General manager Ryan Grigson confirmed he will not exercise the NFL's expensive but restrictive one-year tender on any of his team's free agents-to-be. Today is the deadline for using the franchise tag.

Last offseason, the Colts tagged punter Pat McAfee with a one-year, $2.977 million contract.

The decision not to use the tag means the Colts are relying on long-term contracts to retain their most-prized veteran whose contract expires March 11. That likely is cornerback Vontae Davis. The cost of tagging him would have been $11.8 million. The one-year tag for safety Antoine Bethea would have been $8.4 million.

Other prominent players eligible to hit the free-agent market if a long-term contract can't be achieved are placekicker Adam Vinatieri, running back Donald Brown, linebacker Pat Angerer and McAfee.

With the franchise tag-deadline looming, a handful of teams already have used the mechanism. That includes the New Orleans Saints with tight end Jimmy Graham, the New York Jets with placekicker Nick Folk and the Carolina Panthers with defensive end Greg Hardy.